Fundaztic, a Malaysia-based peer-to-peer financing startup, reportedly secured RM3 million (approximately US$722,000) in 38 minutes on crowdfunding platform, pitchIN. Nearly 65 investors invested through the round, which was launched on October 17th.
Founded in 2016, Fundaztic stated it is on a mission to provide insights and knowledge on crowdfunding with a particular focus on peer-to-peer financing as an alternative financing platform in Asia. The company is aiming to democratize financing and investment by providing rates equitable to risks via reliable big data and technological leverage.
“Fundaztic is founded to tackle the intricacies and potential of FinTech in the ASEAN region, specifically in the area of peer-to-peer financing. For entrepreneurs, Fundaztic offers a crowdfunding platform to raise funds, gain visibility, and build traction, while gaining access to innovative services and to tap into Asia’s fastest growing financing instrument.”
While sharing details about the funding round’s success, Fundaztic CEO, Kristine Ng, reportedly stated:
“When we planned this fundraising round, we felt that our Elite Club members, who are the strongest supporters of our P2P financing deals, should be given opportunities to invest in Fundaztic. The best platform to do this was through ECF and we naturally turned to pitchIN.”
pitchIN CEO, Sam Shafie, went on to add:
“This deal marks the very first time that two crowdfunding platforms that are regulated as Recognised Market Operators (RMO) by Securities Commission (SC) came together in a fundraising alliance. This has boosted the awareness, trust and acceptance in the industry.”
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